HB 1444 Summary

• Authorizes Missouri municipalities to carry out technology business facility projects for telecommunications carriers, data processing/hosting services, and internet publishing businesses, with authority to lease or sell facility components to private entities.

• Provides sales and use tax exemptions for new data storage centers meeting requirements of at least $37 million investment and 30 new jobs (averaging 150% of county average wage) over 36 months, with exemption period not to exceed 15 years.

• Provides sales and use tax exemptions for expanding data storage centers meeting requirements of at least $5 million net new investment and 5 new jobs (averaging 150% of county average wage) over 24 months, with exemption period not to exceed 10 years.

• Exemptions apply to utilities, machinery, equipment, computers, and construction materials used at qualifying data storage centers, limited to the projected net fiscal benefit to the state over 10 years.

• Requires project taxpayers to submit plans to the Department of Economic Development for conditional approval and enter into repayment agreements; prohibits recipients from claiming business recruitment tax credits under section 135.800.